Like I posted yesterday CPST rocketed higher today up +10.85% on after an analyst gave it a buy rating. That makes me happy.

RIMM broke out to a new 52 week high but on lighter volume. This will climb a little higher then pullback into the $125. If is does this on lighter volume I may pick up some.

Oil reached another new high which is ready to pull back. The best way to play this is to look at the XLE which is an ETF.

If you look at the weekly the XLE is climbing up on little volume which means there are few buyer. And when there are no buyers what should happen to the price? It will come down.

My call is that the XLE needs to retest the $78 price range since there is a lot of volume at that price. This is why I am entering in the DUG which is an inverse ETF on oil. I’m in at $30.50 and short term to test $33.96.